First Trust Correlations

FXN Etf

USD 17.95 0.22 1.24%

The current 90-days correlation between First Trust Energy and First Trust Materials is 0.47 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Very weak diversification

The correlation between First Trust Energy and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Energy. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with First Etf

0.88	XLE	Energy Select Sector Aggressive Push	Pair Corr
0.88	VDE	Vanguard Energy Index	Pair Corr
0.98	XOP	SPDR SP Oil	Pair Corr
0.92	OIH	VanEck Oil Services	Pair Corr
0.9	IYE	iShares Energy ETF	Pair Corr
0.92	IXC	iShares Global Energy	Pair Corr
0.89	FENY	Fidelity MSCI Energy	Pair Corr
0.97	FTXN	First Trust Nasdaq	Pair Corr
0.99	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against First Etf

0.45	YCL	ProShares Ultra Yen	Pair Corr
0.45	FXY	Invesco CurrencyShares	Pair Corr
0.44	ULE	ProShares Ultra Euro	Pair Corr
0.55	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.45	PG	Procter Gamble	Pair Corr
0.38	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.32	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	FXZ	FXR	FXO	FXD	FXU
FXZ		0.49	0.27	0.53	0.51	FXZ
FXR	0.49		0.94	0.97	0.85	FXR
FXO	0.27	0.94		0.89	0.75	FXO
FXD	0.53	0.97	0.89		0.83	FXD
FXU	0.51	0.85	0.75	0.83		FXU
	FXZ	FXR	FXO	FXD	FXU

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First Trust Constituents Risk-Adjusted Indicators

There is a big difference between First Etf performing well and First Trust ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze First Trust's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FXZ	0.96	(0.09)	(0.07)	0.01	1.13	(1.04)	2.03	(1.54)	6.40
FXR	0.77	0.06	0.09	0.14	0.66	(0.89)	1.89	(1.12)	5.58
FXO	0.85	0.08	0.13	0.14	0.65	(0.95)	1.78	(1.42)	9.52
FXD	0.70	0.02	0.02	0.11	0.64	(0.81)	1.65	(1.27)	3.96
FXU	0.69	0.14	0.09	0.52	0.63	(0.78)	1.62	(1.31)	4.50

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